Short YouTube conversation (Ben Simpson + guest) arguing that formal schooling teaches budgeting and saving but not taxes, personal finance, or investing. The speakers criticize conventional advice (save small amounts, buy a home you pay interest on) as a path that primarily enriches banks and the wealthy, and urge putting money into appreciating assets (ETFs, Bitcoin) to benefit from compounding; Ben Simpson mentions leaving school at 17 after realizing the system is biased toward the rich.
Chapters
School teaches you to save, which is why you will be broke forever and.
Never be able to escape the rat race.
You get taxed by the government before.
You can do anything with the money.
You don't get taught tax, you don't get taught personal finance. You get taught how to budget and you get taught how to you should save a cup of coffee a week.
And that's how you're going to get wealthy.
You get taught to buy a house that you live in, that you also pay with post tax, that you pay the banks for 30 years interest you can't afford. This great Australian dream of like owning a home or the great US dream of getting your own property is backwards. You are then succumb to owning a piece of property that you never actually fully own because.
You'Re continually trying to.
Use your income to pay the house. But what you're actually doing, just paying years and years and years of interest, paying sometimes.
Double the amount of your.
House to the bank. The only people that they're getting wealthy are bankers and those massive, massive institutions that are telling you to budget. You don't get taught in this in school because they don't want you to know. And that is you cannot get rich. You will stay poor by doing the same thing that they say by budgeting. You need to understand that compounding returns and investing that money, even if you are working, that's fine. I'm saying that you need to take that money and you need to invest into assets, whether in an etf. I think Bitcoin for me is obviously the thing that I'm going to push. But just getting anything to let that company grow and not pay tax until you go and sell it or lend against it, that is what no one tells you. And that is why I left school when I was 17. Because I realized that this world is rigged to help the rich get richer and the poor get poorer. And that is why I'm trying to.
